Bankrupt crypto lender Genesis has asked the court for permission to sell its $1.6 billion cryptocurrency-focused trust.
Genesis, a subsidiary of Digital Currency Group before the bankruptcy court output. In the request submitted to the court by the company, cryptocurrency-focused For the sale of the $1.6 billion trust confirmation requested.
Genesis makes this request, Grayscale Bitcoin Trust (GBTC) valued at $1.4 billion In addition to its shares, approximately $165 million worth Grayscale Ethereum Trust shares and about $38 million worth Grayscale Ethereum Classic Trust He emphasized that he was ready to sell his shares.
GBTC shares in question, Three Arrows Capital (3AC) along with some shares acquired through bankruptcy, Gemini Earn It covers the initial warrant shares transferred to Gemini as part of the program.
While it was thought that the sales to be made would facilitate the payment of debts to customers, recently on FTX through bankruptcy court GBTC shares worth $1 billion He had sold it.
Next hearing in bankruptcy court Thursday, February 8 will be held on the day. Genesis also requested additional time from the court for negotiations regarding the sales transaction.